PPC, DEPA and Damco sign deal on Alexandroupoli plant
Public Power Corporation, DEPA Commercial and Damco Energy (of the Copelouzos Group) have signed an agreement for the purchase by PPC of a 51% share of Electroparagogi Alexandroupolis Monoprosopi SA, a company planning to build and operate an 840-megawatt gas-fueled power plant in Alexandroupoli, according to a press release on Thursday.
DEPA Commercial will buy out 29% of the same firm while Damco Energy will retain a 20% share. The agreement was signed on Wednesday by PPC Chairman and CEO Giorgos Stassis, DEPA Commercial’s Chairman Ioannis Papadopoulos and CEO Konstantinos Xifaras, and the board chairman of the Copelouzos Group, Christos Copelouzos, in the presence of Environment and Energy Minister Kostas Skrekas.
Construction of the new plant will begin in the first quarter of 2023 and finish in 2025, the announcement said.
The plant is set to be the most efficient in the country, with an efficiency rate of 63%, and will be able to get natural gas directly from the FSRU in Alexandroupoli, while it is strategically positioned near the IGB pipeline and linked to the Nea Santa high-voltage substation, which is ideally placed for electricity exports to neighboring countries.
In statements afterward, Skrekas said the agreement was “one more strong link in the chain of efforts we are making to ensure energy sufficiency in our country… with rapid but steady steps, we are making Greece a key pillar for energy security throughout Southeastern Europe.”
